Using 2 SD regression, the bear market rally is hitting a resistance area and look like topping over. This means the bear market rally could be over. Can look to sell now.
Wednesday, May 21, 2008
Wednesday, May 14, 2008
GBP Weekly : Head and Shoulder Reversal
The weekly GBP trend is down and it is potentially heading towards the Head and Shoulder Support at 1.9250. A clear break of this trend line could see market move towards a measured target of 1.7820 (2.0910-1.9480 = 1430 pips) from 1.9250.
Suggesting a sell here for this ultimate target. Along the way, there could be chances for countertrend rallies. Will post once I see any trades.
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